Stephens Reiterates Overweight Rating for Azenta (NASDAQ:AZTA)

Azenta (NASDAQ:AZTA)‘s stock had its “overweight” rating reaffirmed by Stephens in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $60.00 price target on the stock. Stephens’ price target would suggest a potential upside of 18.76% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Evercore ISI decreased their target price on shares of Azenta from $53.00 to $50.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 1st. Needham & Company LLC dropped their price target on shares of Azenta from $69.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Azenta has a consensus rating of “Moderate Buy” and an average price target of $61.60.

Azenta Price Performance

Azenta stock opened at $50.52 on Thursday. The stock has a market capitalization of $2.31 billion, a PE ratio of -17.01 and a beta of 1.49. The business has a 50 day simple moving average of $46.22 and a 200-day simple moving average of $49.20. Azenta has a 12 month low of $38.82 and a 12 month high of $69.16.

Azenta (NASDAQ:AZTA) last released its earnings results on Tuesday, November 12th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. The business had revenue of $170.00 million during the quarter, compared to analysts’ expectations of $169.66 million. Azenta had a negative net margin of 25.01% and a positive return on equity of 1.03%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, equities research analysts anticipate that Azenta will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Azenta

In other news, CFO Herman Cueto sold 1,595 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $43.68, for a total transaction of $69,669.60. Following the sale, the chief financial officer now owns 24,604 shares of the company’s stock, valued at approximately $1,074,702.72. This represents a 6.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William L. Cornog purchased 12,500 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $39.60 per share, with a total value of $495,000.00. Following the purchase, the director now owns 14,755 shares of the company’s stock, valued at approximately $584,298. This represents a 554.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 3,018 shares of company stock valued at $126,689 over the last quarter. 10.62% of the stock is owned by company insiders.

Institutional Investors Weigh In On Azenta

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Azenta by 20.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,537 shares of the company’s stock worth $74,000 after acquiring an additional 256 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Azenta by 150.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $84,000 after buying an additional 955 shares during the last quarter. Net Worth Advisory Group acquired a new position in shares of Azenta in the 3rd quarter valued at $205,000. Aigen Investment Management LP acquired a new position in Azenta in the third quarter valued at $214,000. Finally, Sanctuary Advisors LLC purchased a new stake in Azenta during the 2nd quarter valued at approximately $222,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.